Sugar No. 16
The Sugar No. 16 contract serves the hedging needs of U.S. sugar producers, end users and merchants. The contract prices physical delivery of US-grown (or foreign sugar with duty fees paid by deliverer) raw cane sugar at one of five U.S. refinery ports selected by the receiver: New York, Baltimore, Galveston, New Orleans, and Savannah. Its quality standard is defined as raw centrifugal cane sugar based on 96 degrees average polarization.